Four universities in New England are set to exceed $90,000 in annual fees starting this autumn.
Harvard University reported a 5% decrease in undergraduate applications this year compared to the previous year. This decline follows a turbulent period for the Ivy League institution, marked by [ppp1] and controversies surrounding [ppp2] on campus.
Based in Cambridge, Massachusetts, Harvard received 54,008 applications for the class of 2028, according to the Harvard Crimson, the university’s campus newspaper. Out of these applicants, the undergraduate college accepted 1,245 students, resulting in an acceptance rate of 3.59% for the incoming freshman class—the highest in four years.
In contrast to Harvard’s decrease in applications, other Ivy League schools such as Yale and Columbia experienced an uptick in student interest. Yale saw a 10% rise in its admission pool, while Columbia University observed a 5.4% increase. Due to the larger number of applicants, Yale achieved its lowest-ever acceptance rate of 3.7%, while Columbia’s rate narrowed to 3.85% from 3.9% the previous year.
Harvard faced significant public scrutiny over the past year, including criticism from alumni and donors, regarding its response to antisemitic incidents associated with [ppp3]. Additionally, the decline in applications followed a legal battle over the use of race-conscious admissions policies, a ruling that has impacted college admissions practices by effectively ending affirmative action in higher education.
Notably, Harvard did not disclose data on the racial and ethnic composition of its incoming class, information that was previously provided in prior years, as highlighted by the Harvard Crimson.
The university did not respond immediately to inquiries regarding the reduction in applications.
Despite Harvard’s highest acceptance rate in four years, it remains one of the most competitive educational institutions in the United States. Some affluent families are now [ppp4] to ready their children for the college admissions process, anticipating that the additional investment will result in acceptance to a prestigious university.
Research indicates that earning a bachelor’s degree from a competitive university can significantly enhance an individual’s lifetime earnings. According to a 2023 study by Harvard economists, graduates from Ivy League and other elite schools are 60% more likely to have incomes within the top 1% compared to those who did not attend such institutions.
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Aimee Picchi serves as the associate managing editor for CBS MoneyWatch, focusing on business and personal finance topics. With prior experience at Bloomberg News and contributions to national publications like USA Today and Consumer Reports, she brings a wealth of expertise to her reporting.